HDFC sells further 4.22% stake in Gruh for Rs 899 crore

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HDFC sells 4.22% stake in Gruh Finance for Rs 899 cr; shares of both companies decline Business Press Trust of India Jun 14, 2019 17:19:15 IST New Delhi: Mortgage lender HDFC on Friday said it has sold over 4.22 percent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore.

HDFC HDFC sells further 4.22% stake in Gruh for Rs 899 crore. The sale of 3,10,00,000 equity shares representing 4.22 of the issued and paid-up share capital of Gruh was carried out through stock exchanges at the prevailing market price, HDFC said in a regulatory filing.

HDFC sells further 4.22% stake in Gruh for Rs 899 crore – The corporation is a shareholder of Gruh is entitled to 14.96% stake post-amalgamation, based on the share exchange ratio

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